Huge insurance savings in the Construction industry

The problem:

In order to compete for contracts, Formark Scaffolding had to ensure they were completely up to date and accredited for health and safety. Industry changes had meant that there had been a huge shift away from self employed sub-contractors to full time employees, which brought Formark’s staff up to 40.

With rising insurance costs and an army of different advisors and insurance companies trying to get involved, Formark wanted to appoint a single organisation that could monitor and help improve their health and safety and work alongside the management team in a permanent advisory capacity.

The approach:

Formark appointed Hamilton Deed and were able to credibly demonstrate when tendering for contracts that they were being continually assessed by an external company that vetted their day-to-day practices and could assure potential partner companies that all aspects of health and safety were being carefully managed.

The result:

Following a full review and the instigation of a system of checks, Formark were able to reduce their premiums through Hamilton Deed’s insurance partner, Gable, by 25% - equivalent to an annual saving of £7000.